CIT v. Creative World Telefilms Ltd.

DCIT 4 (3)(1), Mumbai vs. Shri Mohit Keepak Kamboj, Mumbai

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alcpk2213Q (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

…icer then the department is free to proceed to reopen their individual assessments in accordance. with. law but it cannot be regarded as undisclosed income of assessee company". The Hon'ble Bombay High Court in the case of CIT v/s Creative World Telefilms Ltd 333 ITR 100 has held "If the share application money is received by the assessee company from alleged bogus shareholders who's name are given to the Assessing Officer then the department can always proceed against them and if necessary reopen their individual assessments. The Hon'ble Bombay High Court in the case of CIT vs. Gagandeep Infrastructure Pvt. Ltd…

ACIT Cir-6(3)(2), Mumbai vs. Shri Mohit Deepak Kamboj, Mumbai

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

…icer then the department is free to proceed to reopen their individual assessments in accordance. with. law but it cannot be regarded as undisclosed income of assessee company". The Hon'ble Bombay High Court in the case of CIT v/s Creative World Telefilms Ltd 333 ITR 100 has held "If the share application money is received by the assessee company from alleged bogus shareholders who's name are given to the Assessing Officer then the department can always proceed against them and if necessary reopen their individual assessments. The Hon'ble Bombay High Court in the case of CIT vs. Gagandeep Infrastructure Pvt. Ltd…

DCIT 4 (3)(1), Mumbai vs. Mohit Deepak Kamboj, Mumbai

Bench: Shri Aby T. Varkey, Jm & Shri S. Rifaur Rahman, Am आयकर अपील सं/ I.T.A. No.4285/Mum/2019 (निर्धारण वर्ा / Assessment Year: 2010-11) & आयकर अपील सं/ I.T.A. No.6384/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2010-11) Dcit-4(3)(1) बिधम/ Shri Mohit Deepak Room No. 649, 6Th Floor, Kamboj Vs. Aayakar Bhavan, Mumbai- A-15, Venus Co-Op. 400020. Society, R. G. Thandani Marg, Mumbai-400018. & आयकर अपील सं/ I.T.A. No.801/Mum/2018 (निर्धारण वर्ा / Assessment Year: 2012-13) Acit, Cir-6(3)(2) बिधम/ Shri Mohit Deepak R. No. 522, 5Th Floor, Kamboj Vs. Aayakar Bhavan, M. K. A-15, Venus Co-Op. Road, Mumbai-400020. Society, R. G. Thandani Marg, Mumbai-400018 स्थधयी लेखध सं./जीआइआर सं./Pan/Gir No. : Alckp2213G (अपीलार्थी /Appellant) .. (प्रत्यर्थी / Respondent) Assessee By: Shri Satyaprakash Singh Revenue By: Shri P. R. Mane सुनवाई की तारीख / Date Of Hearing: 15/07/2022 घोषणा की तारीख /Date Of Pronouncement: 28/09/2022 आदेश / O R D E R Per Aby T. Varkey, Jm:

…icer then the department is free to proceed to reopen their individual assessments in accordance. with. law but it cannot be regarded as undisclosed income of assessee company". The Hon'ble Bombay High Court in the case of CIT v/s Creative World Telefilms Ltd 333 ITR 100 has held "If the share application money is received by the assessee company from alleged bogus shareholders who's name are given to the Assessing Officer then the department can always proceed against them and if necessary reopen their individual assessments. The Hon'ble Bombay High Court in the case of CIT vs. Gagandeep Infrastructure Pvt. Ltd…

ITO 2 (2), Thane vs. M/S Span Realtors, Bhayander

In the result, appeals filed by the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleincome Tax Officer – Ward – 2(2) V. M/S. Span Venture 6Th Floor, Ashar I. T. Park 1St Floor, Span Duplex Room No. 26, B-Wing Opp. Maxus Mall Wagle Industrial Estate Bhayander (W) Road No. 16Z, Thane (W) - 400604 Thane-401101 Pan: Abvfs7153A (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Income Tax Officer – Ward – 2(2) v. M/s. Span Venture 6th Floor, Ashar I. T. Park 1st Floor, Span Duplex Room No. 26, B-Wing Opp. Maxus Mall Wagle Industrial Estate Bhayander (W) Road No. 16Z, Thane (W) - 400604 Thane-401101 PAN: ABVFS7153A (Appellant) (Respondent) ITA NOs. 7464 & 7465/MUM/2019 (A.Ys. 2013-14 & 2014-15) Income Tax Officer – Ward – 2(2) v. M/s. Span Realtors 6th Floor, Ashar I. T. Park B001-002, Gopal Darshan Room No. 26, B-Wing Indralok P…

ITO 2 (2), Thane vs. M/S Span Realtors, Bhayander

In the result, appeals filed by the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleincome Tax Officer – Ward – 2(2) V. M/S. Span Venture 6Th Floor, Ashar I. T. Park 1St Floor, Span Duplex Room No. 26, B-Wing Opp. Maxus Mall Wagle Industrial Estate Bhayander (W) Road No. 16Z, Thane (W) - 400604 Thane-401101 Pan: Abvfs7153A (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Income Tax Officer – Ward – 2(2) v. M/s. Span Venture 6th Floor, Ashar I. T. Park 1st Floor, Span Duplex Room No. 26, B-Wing Opp. Maxus Mall Wagle Industrial Estate Bhayander (W) Road No. 16Z, Thane (W) - 400604 Thane-401101 PAN: ABVFS7153A (Appellant) (Respondent) ITA NOs. 7464 & 7465/MUM/2019 (A.Ys. 2013-14 & 2014-15) Income Tax Officer – Ward – 2(2) v. M/s. Span Realtors 6th Floor, Ashar I. T. Park B001-002, Gopal Darshan Room No. 26, B-Wing Indralok P…

ITO 2 (2), Thane vs. M/S Span Venture, Bhayander

In the result, appeals filed by the revenue are dismissed

Bench: Shri Aby T. Varkey, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleincome Tax Officer – Ward – 2(2) V. M/S. Span Venture 6Th Floor, Ashar I. T. Park 1St Floor, Span Duplex Room No. 26, B-Wing Opp. Maxus Mall Wagle Industrial Estate Bhayander (W) Road No. 16Z, Thane (W) - 400604 Thane-401101 Pan: Abvfs7153A (Appellant) (Respondent)

…IN THE INCOME TAX APPELLATE TRIBUNAL “E” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, HON'BLE JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER Income Tax Officer – Ward – 2(2) v. M/s. Span Venture 6th Floor, Ashar I. T. Park 1st Floor, Span Duplex Room No. 26, B-Wing Opp. Maxus Mall Wagle Industrial Estate Bhayander (W) Road No. 16Z, Thane (W) - 400604 Thane-401101 PAN: ABVFS7153A (Appellant) (Respondent) ITA NOs. 7464 & 7465/MUM/2019 (A.Ys. 2013-14 & 2014-15) Income Tax Officer – Ward – 2(2) v. M/s. Span Realtors 6th Floor, Ashar I. T. Park B001-002, Gopal Darshan Room No. 26, B-Wing Indralok P…

DCIT CC 8(1), Mumbai vs. Shri. Suresh Gurubuxsing Wadhwa, Navi Mumbai

In the result, all the appeals filed by the Revenue stand dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

…i Vs. CIT (2004) 264 ITR 254. The Hon’ble CIT(A) has also discussed the case of Hon’ble Supreme Court in the case of CIT Vs. Orissa Corporation Pvt. Ltd. 159 ITR 78. The decision of Hon’ble Bombay High Court in the case of CIT Vs. Creative World Telefilm Ltd. 333 ITR 100 (Bombay High Court) wherein it is held that assessee had given the details of addresses of the shareholder their PAN/GIR numbers and had also given the cheque no. name of the bankers and the assessing officer ought to have found out 3 Appeals DCIT, CC8(1) VS. Shri Suresh Gurbuxsing Wadhwa 9 their details through PAN card, bank/account detail of…

DCIT, CC- 8 (1), Mumbai vs. Surinder Anantram Sabhlok, Mumbai

In the result, all the appeals filed by the Revenue stand dismissed

Bench: Shri Pavan Kumar Gadale & Shri Amarjit Singh

…ssed the case of Hon’ble Supreme Court in the case of CIT Vs. Orissa Corporation Pvt. Ltd. 159 ITR 78. 5 Appeals DCIT, CC-8(1) Vs. Shri Surinder Anantram Sabhlok 10 The decision of Hon’ble Bombay High Court in the case of CIT Vs. Creative World Telefilm Ltd. 333 ITR 100 (Bombay High Court) wherein it is held that assessee had given the details of addresses of the shareholder their PAN/GIR numbers and had also given the cheque no. name of the bankers and the assessing officer ought to have found out their details through PAN card, bank/account detail of the banker so as to reach the shareholders. Thus, the view t…

ACIT Central Cir-4(4), Mumbai vs. Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

ACIT Central Cir-4(4), Mumbai vs. Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

ACIT Cent. Cir-4(4), Mumbai vs. Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

ACIT Cent. Cir -4(4), Mumbai vs. Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4 (4), Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC 4(4), Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Nadidwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Nadiadwala Grandson Entertainment Pvt. Ltd, Mumbai vs. DCIT CC-4(4), Mumbai

In the result, the appeals of the assessee i

Bench: Shri Amarjit Singh & Ms.Kavitha Rajagopalita Nos.1492 To 1497/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14 To 2016-17) Nadiadwala Grandson Vs. Dcit, Cc-4(4), Entertainment Pvt. Ltd. 19Th Floor, Air India 1701, 17Th Floor, Lotus Building, Nariman Point, Grandeur, Off Veera Desai Mumbai - 400021 Road, Andheri West, Mumbai – 400053 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Ita Nos.2221 To 2223, 2237 & 2238/Mum/2021 (A.Ys. 2010-11, 2011-12 & 2013-14, 2015-16 & 2016-17) Asst. Commissioner Of Vs. Nadiadwala Grandson Income Tax, Central Circle- Entertainment Pvt. Ltd. 4(4),Central Range-4 Nadiadwala Villa, Ocean Pr.Cit(C)-2,R.No. 1922, View, Jp Road, Versova, 19Th Floor, Air India Andheri (West), Building, Nariman Point, Mumbai - 400061 Mumbai - 400021 स्थायीलेखासं./जीआइआरसं./ Pan/Gir No: Aaccn0909J Appellant .. Respondent Appellant By : Mani Jain & Prateek Jain Respondent By : Dr. Mahesh Akhade Date Of Hearing 24.03.2022 Date Of Pronouncement 07.06.2022

…gard, he relied upon various judicial precedents. The case was relied upon by the assesses are reproduced hereunder- 1. CIT vs. Goa Sponge and Power Ltd (13/02/2012) Tax Appeal No. 16 of 2012 (High Court-Bombay) 2. CIT vs. Creative World Tele films Ltd.(2011) 333 ITR 100 (Bom-High Court) 3. CIT vs. Lovely Exports (P) Ltd (2008) 216 CTR 195(SC) 4. CIT vs. Stellar Investment Ltd (2001) 251 ITR 263(SC) (Civil Appeal) 5. CIT vs. Nav Bharat Duolex Ltd. (2013) 35 Taxmann.com289(AII- High Court) 6. CIT vs. JayDee Securities & Finance Ltd. (2013) 32 Taxmann.com91 (All- High Court) 7. ACIT vs. Venkateshwarlspat Pvt. Ltd (…

Deputy Commissioner of Income Tax-4(3)(1), Mumbai vs. Qmax Synthetics Private Limited, Mumbai

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhailacit-4(3)(1) Vs. M/S Qmax Synthetics R. No. 649, 6Th Floor, Pvt. Ltd., 5-B/174, Aayakar Bhavan, Sanjay Building, Mittal Mumbai – 400 020 Industrial Estate, Andheri (E), Mumbai 400 059 "थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aaacq0206D Respondent .. Appellant

…it cannot be termed as "bogus". The controversy is covered by the judgements rendered b y the Hon'ble Supreme Court in the case of Lovely Exports Pvt. Ltd, vs. CIT, (2008) 216 CTR (SC) 195, as also by this Court in CIT vs. Creative World Telefilms Ltd, (2011) 333 ITR 100 (Bom). In such circumstances, we are of the view that the Tribunal's finding that there is no justification in the addition made under Section 68 of the Income Tax Act, 1961 neither suffers from any perversity nor gives rise to any substantial question of law." (vi) In the case of CIT vs. Creative World Telefilms Ltd reported in 333 ITR 100. Hon…